Real Estate Information

Portal- CafeF Land

Main Contents
Macro Economy

CPI in 2011 rose 18.58% on year

Trade deficit declined sharply thanks to exports
State inspected many ministries, departments and large economic
groups.
Total social capital sources will be restructured

Infrastructure News

Construction on overhead ring road No 3

Real Estate Market

Report in 2011

Basic completion of National Highway No 32 crossing DienNhon

section
Thu Thiem tunnel was officially opened to traffic and East-West
Boulevard completed
Construction on Long Thanh International Airport

News, Highlights

Real estate prices in Hanoi dropped sharply

A series of defaults relating to real estate
Government approved master plan for Hanoi
Rescuing real estate

Market Overview

Housing price in 2011 in Hanoi declined 30%-40% from early

2011, decreased 5-10% in HCM City
Compiled by Data Analysis and Editorial
Division-CafeF Land
Add: 18th floor, VTC Online Building, 18 Tam
Trinh, Hai Ba Trung, Hanoi
Tel: 04 39743410. Ext: 295
Fax: 04 39744082
Email: info@cafef.vn

Office rental charge mitigated

Markets of office for lease and retail space suffered pressure from
the abundant new supply

Outstanding real estate projects

Land price table of outstanding projects

Updated photos on pace of projects

Appendix: Typical real estate projects
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REAL ESTATE MARKET REPORT IN 2011

MACRO ECONOMY
CPI (Consumer price index) in 2011 surged 18.58% State carried out inspections in many ministries,
on year
departments and large economic group
Electricity price saw two increases and gasoline price

Ministries of finance and industry and trade were audited,

increased twice while posting only one slight fall, which

caused pressures on CPI, leading to a year on year CPI rise

27 economic groups and corporations and commercial

banks were under the list to audit in 2011 such as Vinashin,

of 18.58% in 2011, higher than the inflation ceiling in early

2011 but ranging around the 18% ratio adjusted by the

EVN, TKV, Vinalines

National Assembly.

Trade deficit eased sharply thanks to exports

The countrys export turnover in 2011 was estimated at over
$96.3 billion, rising 33.3% year on year.
Export turnover structure of commodities in 2011 saw some

States inspections in operations of many large economic

groups have gained initial results such as EVNs long term
financial investments were up to nearly 50 trillion VND and
its accumulated loss as of the end of 2011 was up to over 35
trillion VND; petroleum companies made ineffective noncore investments and auditing agency concluded the
auditing result of petroleum price stabilization fund

changes from 2010: the proportion of heavy industrial

Total social capital sources to be restructured
products and minerals increased 4% on year whereas the
group of light industrial products, agro-forestry and fisheries
products and gold and its products saw slight fall y-o-y.
The countrys total import spending in 2011 was estimated
at over $105.8 billion, up 24.7% on year. The trade gap for
the whole year was estimated at more than $9.5 billion.
If excluding the price factor, the countrys export turnover
increased 11.4% on year and the import value posted a rise
of 3.8% over 2010. Thanks to sharply increasing export,
Vietnam lessened trade gap significantly in 2011.

FDI, ODA declined, disbursement increased

Decree No 59/2011/N-CP dated on July 8, 2011 on

restructuring 100% state-owned enterprises (SOEs) to be
joint stocks company has created premise to restructure a
series of SOEs.
Many equitization plans attracted the attention of local and
foreign investors like equitization for 10 firms under
Ministry of Industry and Trade; six firms of Vinachem;
companies of Vietnam Airlines; six firms of Railway Corp;
Urban and Housing Development Group, member
companies of Song Da Group; BIDV; VNSteel; CPH
Mobifone; PV Oil, Nhon Trach Power...

As of December 15, 2011, Vietnam lured $14.7 billion Mineral resources are included in planning
newly-pledged and raised FDI (foreign direct investment)
Facing the situation of indiscriminate mining and too many
capital, down 26% from 2010, of which 76.4% was for
crude exports, government has issued mining strategy to
industry and construction sectors. Although FDI attraction
2020 and vision till 2030.
declined, FDI disbursement quality has been improved
significantly with $11 billion in 2011, equaling to the
actualized figure in 2010 and contributing 25.9% to the total
social investment capital.
At CG meeting, pledged ODA capital for Vietnam in 2012

Government discouraged exports of natural resources and

definitely did not allow exports of crude minerals. Newlylicensed projects must be strictly controlled and under the
plan approved by the prime minister.

reached $7.386 billion, down slightly against $7.88 billion in

2011.

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Real estate market report in 2011

INFRASTRUCTURE NEWS

Hanoi
Overhead ring road No 3 to be
built: project has total length of
8.5km, from Mai Dich to North Linh
Dam. Project is now under
construction.
Basic completion for National
Highway No 32 crossing Dien
Nhon section: So far, project has
been completed basically to traffic
and expected to fully complete prior
to Lunar New Year.
Overhead urban railway to be
built: Nhon Hanoi Railway Station,
Cat Linh Ha Dong

HCM City
Thu Thiem tunnel was officially
opened to traffic and East-West
Boulevard was completed: Thu
Thiem tunnel was fully completed.
Extended section to Trung Luong
highway was started construction.
Eastern
ring
road
was
completed: connecting Phu My
Bridge to Hanoi highway and
promoting projects in district 2 & 9.
Provincial road No 25B was
completed:
connecting
Hanoi
highway to Cat Lai Port in district 2.
Long
Thanh
international
airport to be built: 5,000 ha with
maximum transport capacity of 100
million passengers and five million
tones of cargos per year.

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Real estate market report in 2011

NEWS, HIGHLIGHTS
Market News
Hanoi real estate price dropped sharply: the
biggest impact from the tightening credit policy in
real estate sector was the collapse spiral when
liquidity declined, both supply and demand decreased
while bad debts increased. Within only two months
from April to June 2011, land plot price in 70% of
new urban zones in outskirts of Hanoi declined.
Notably, projects in the west saw decline of up to 2030% in price such as Kim Chung Di Trach, Gelexinco
Le Trong Tan, Van Phu and Van Canh
So far, with policy to bring property loan ratio down
to 16%, banks are tightening debts. A round of selloff of real estate made prices go down. The wave of
sell-off started from the discount of up to 35% of
PetroVietnam Power Land JSC (PVL) and then in
Hanoi, Private Construction Company No 1 also
decided to reduce 5-7 million VND/m2 for apartments
at VP3 Linh Dam project and CT6 Xa La under
Bemes Buou Bridge housing area.
A series of defaults relating to real estate: 2011
witnessed a series of defaults of giant landlords.
Some noticeable defaults were Nguyen Thi Cuc (Phu
Xuyen, Hanoi) with over 250 billion VND (interest
payment was up to 10 billion VND/month), couples
Bui Thi Quyen and Ta Viet Quang (Phung town, Dan
Phuong, Hanoi), borrowing 200 billion VND at the
excessively high interest rate of up to 2,500 VND/1
million VND/day to invest in real estate, debtor
Nguyen Thi Dau also caused uproar in Ha Dong
district, Hanoi when borrowing 150 billion VND with
the interest of up to four billion VND/month to relend
to Nguyen Duc Thang (Quang Trung, Ha Dong) for
investments in real estate. Famous realty giant in Bac
Ninh also fell into insolvency namely couples of
Nguyen Thi Minh Tam and Nguyen Chi Viet, director
of Hai Ha Real Estate Co. Tam admitted borrowing
nearly 130 billion VND also at excessively high
interest rate to buy villas in Bac Ninh and outskirts of
Hanoi, total at nearly 50 villas.

FDI in real estate in 2011 declined seriously: 2011

saw a serious fall of FDI capital in real estate sector,
marking the lowest figure in the past five years.
Particularly, in 2008, FDI capital in real estate sector
reached about $23.6 billion, in 2009 at $7.6 billion, in
2010 at $6.8 billion while till the end of November
2011, the figure was only $464 million, marking the
record low level over previous years.
"Unmarketable" low income houses: realty
investors are tired of housing projects for low-income
earners while buyers do not have enough money.
Presently, Hanoi has some low income house projects
under process of receiving house purchase dossier
such as Dang Xa, Dai Mo and Sai Dong. However,
there were not many buyers.
The reason was due to the price of low income houses
still remained high (about 13 million VND/m2),
together with intense payment schedule and
complicated purchase procedures with many
conditions and complicated requirements on
ownership, transfer time and approval time...
M&A wave: In the context of difficult economic
situation, mergers and acquisitions (M&A) wave for
real estate projects will be an inevitable trend. Many
big deals occurred such as Singapore-based Dacin
Holdings acquired 80% stake of Tan Tao A project
from Khang An, JSM Indochina transferred Peninsula
project for Sao Sang Saigon Co, CapitaValue Homes
Limited acquired 65% stake of Quoc Cuong Saigon
Ltd Co, Tama Global Investment Pte.Ltd.., bought
into 20% stake of Cotecland,
Many experts said that this trend will develop strongly
in the future.

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Real estate market report in 2011

Policy News

Business News

Resolution No11 on real estate credit crunch:

facing pressure to control inflation and stabilize
macro economy, on February 24, 2011, government
issued Resolution No11 and on March 1, 2011, the
State Bank of Vietnam (SBV)s governor issued
Directive No01. Accordingly, banks will tight credit
and reduce loans for non-production sectors,
especially real estate sector, in comparison with 2010
(the non-production loan ratio in total loans at
maximum 16% as of December 31, 2011). This
measure has great impacts on the realty market,
leading to big gap between supply and demand,
strong decline of realty prices while buyers are
waiting for further falls in prices.

Vincom transferred Tower B Vincom Centre

Hanoi for Techcombank: Vincom sold entire office
area from the seventh floor upwards, lobby area on the
first floor, partly area on first and second floors of
trade centre and some areas and other assets at No191
Ba Trieu, Hanoi for Techcombank. The transfer is
estimated to finished on March 1, 2012.

Government approved master plan for Hanoi: on

July 26, 2011, prime minister approved the master
plan to build Hanoi to 203 and vision till 2050.
Accordingly, national political and administrative
centre will be still located in Ba Dinh. However,
some ministries and departments will move
headquarters to My Dinh area and the west of West
Lake. Governmental institutions will not be located
in Ba Vi. As planned, Hanoi will have central urban
zone from ring road IV inwards namely the countrys
high quality centre of politics, culture, service, health
and education. In addition, the plan will build five
satellite urban zones of Hoa Lac, Son Tay, Xuan Mai,
Phu Xuyen-Phu Minh and Soc Son and ecology urban
zones. Especially, Hanoi will have green corridor area
between downtown and satellite urban zones. As
calculated, the total investment for the master plan
would be up to $300 billion, even up to $400 billion.
As estimated, 20 years for Hanoi will be equal to
countrys GDP in four years.
Excluding four real estate groups from nonproduction credit: In November, the central bank
issued a Document No 8844/NHNN-CSTT excluding
four real estate groups from the non-manufacturing
credit, including house repairing and purchase for
living using salaries to pay for bank loans, building
houses to sell and lease for low income earners and
workers; building accommodation for workers in
industrial zones and housing development projects to
be handed over in 2012.

Vinaconex will merge subsidiaries in real estate

sector: Vinaconex planned to set up a core company
in real estate sector, including investments in urban
zones, housing areas, residential areas, entertainment
areas, real estate management and realty services.
CBRE
acquired
real
estate
investment
management division of ING Group: CBRE has
acquired real estate investment management division
(ING REIM) of ING Group NV in Asia, and merged
operations with counterpart department of CBRE.
The payment is part cash and part of loans under
guaranteed credit line, including $800 million of bank
loan raised in March 2011.
Vinpearl merged into Vincom: on October 4,
director board of Vinpearl JSC and Vincom JSC
adopted resolution to merge Vinpearl JSC into
Vincom JSC, at the same time changed name to
Vietnam Investment Group JSC (hereinafter referred
to as Vingroup). VPL share will be swapped to VIC
share at the ratio of 1: 0.77.
Saigon Xanh Real Estate Co merged into Quoc
Cuong Gia Lai: Quoc Cuong Gia Lai JSC has
submitted document to offer 2,926,997 shares to
merge into Saigon Xanh Real Estate Development and
Investment JSC (SaiGonXanh - SGX). The swap ratio
was 1.5:1. SaiGonXanh has 295 billion VND equity,
of which QCG holds 85.16% stake. Therefore, it is
necessary to issue additional only 15% for
shareholders outside QCG for the merger.

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Real estate market report in 2011

MARKET OVERVIEW
In 2011, Vietnams economy entered into an
extremely difficult period, GDP growth rate
declined while inflation accelerated, input basic
raw materials prices for productions surged and
labour costs also soared,
Therefore, in a bid to tame inflation and stabilise
the macro economy, government issued a
Resolution No11/NQ-CP by late February 2011
and the central bank issued Directive No01/CTNHNN in early March 2011. This has had a strong
impact on the entire economy, including finance,
stock market and real estate sector.
Limited money supply have caused considerable
difficulties for realty firms in capital mobilisation
while this field always requires a huge amount of
medium and long term capital. Hence, a series of
real estate projects had to halt deployment, market
remained stagnant, supply was scarce and many
companies faced risk of bankruptcy.

Preliminary statistics showed that in 2011, there

were up to 48,000 enterprises going bankrupt,
including many real estate companies.
For real estate market, the central banks
Directive No01/CT-NHNN ruled commercial
banks to reduce non-production loan ratio
(mainly in real estate and stock market) to 16% of
total loans as of December 31, 2011. This
measure has caused great impact on the real
estate market, leading to more gloomy situation
of real estate market, decreasing supply, low
liquidity and decline of real estate prices.
Housing prices (including apartments, adjacent
houses and villas) in 2011 tended to go down by
averagely 30%-40% from early 2011 in Hanoi
and 5-10% in HCM City.

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Real estate market report in 2011

Viewpoints from state management agencies

Mr. Nguyen Tran Nam Deputy minister of
construction
If tight credit policy continues
to prolong for long time and
property loans keep falling
like currently, the real estate
market will continue to
freeze, products will be hard
to be completed and sold
below costs and enterprises
may fall into insolvency for
bank loans.

Mr. Cao Sy Kiem former governor of State

Bank of Vietnam (SBV)

2012 is said to continue a

difficult year, not only for
real estate market. The
unsolved capital problem
and economic restructuring
effort, including banking
system, will cause great
impacts on the market.

Viewpoint from project developers

Mr. Tran Minh Hoang Chairman of Vinaland
In 2012, market thrives or
freezes
depending
on
credit. If interest rates
decrease, the market will be
more exciting, but price
may not increase due to
oversupply
pressure,
however,
certainly
transactions will be more
exciting.

Mr. Nguyen Van Duc deputy director of Dat

Lanh Co
In
2012,
market
is
forecasted to see extremely
fierce competition. Credit
for real estate will be more
difficult. As for me, 2012
will be a very difficult year
and market may witness
many companies to go
bankrupt.

Viewpoints from real estate consulting companies and investment funds

Mr. Pham Thanh Hung deputy general
director of CEN Group
Investors will be forced to sell at
loss due to confidence in the
market declined as mainly they
no longer see profit. Real estate
price may see further falls to be
at more suitable level with the
real demand of customers.

Mr. Marc Townsend general director of

CBRE Vietnam
Real estate market in 2012 in
all segments will still continue
to be stagnant. In the near
future, the discount move in
high-class apartment projects
may continues.

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Real estate market report in 2011

Cn h chung c trong giai onApartment

gim gi market
In Hanoi
Within one year from early 2009 to early 2010, apartment
price had increased rapidly by 40%, then stood at high level
in 2010. Till the end of 2011, apartment price decreased 1030% from early 2011, but falling slightly over early 2010.
Currently, apartment average price in Ha Dong district is
ranging around 17 22 million VND/m2, in Tu Liem
district (My Dinh) ranging 25 32 million VND/m2, in
Dong Da at 30 -40 million VND/m2, Hai Ba Trung (Minh
Khai) at 24 33 million VND/m2,

In HCM City
There were no strong discounts and sells-off in the past
time but the market is still witnessing downward tendency,
discounts and payment reschedules. These forms aimed at
supporting customers to stipulate the real demands. In
addition, businesses are accelerating the recovery of cash
flows and sale of outstanding projects. In December, there
were three typical projects for this trend namely Petro Land
Tower apartment project in district 7, An Tien (Gold House)
apartment project and V-Citi Light apartment project.

Source: Apartment price in Hanoi in Q4/2011 (CBRE

Vietnam)

Source: Apartment price in HCM City in Q4/2011

(CBRE Vietnam)

Project land market

Land price from early 2009 to early 2010 in Hanoi
surged sharply 70 80%, even some projects saw
double increase. Till the end of 2011, project land
price declined by 30 40% from early 2011 but
remained unchanged from January 2010. Presently,
land price in Gia Lam district is averagely at 45-65
million VND/m2; Ha Dong distrct at 45-50 million
VND/m2, even up to 80 100 million VND/m2, Hoai
Duc at 24-35 million VND/m2, Me Linh at 12-18
million VND/m2,...

Land price in Hanoi in Q4/2011

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Real estate market report in 2011

Office for lease market and retail space

Office
Office market in HCM City still saw difference
between old and new buildings. New projects such
as Bitexco and Vincom still posted high vacancy
ratio while old buildings in the central area reached
the fulfillment of over 90%. Regarding the office
rental price, this is the third year, office rental
charges have continued to fall and posted the
strongest decline in the fourth quarter of 2011.
According to CBRE, average rental price for Grade
A is currently at $32, Grade B at $18 and Grade C
at $14. New supply is constantly increasing.
In Hanoi, after three quarters of relative stability,
the rental price tended to increase slightly and
market performance was quite good. In the fourth
quarter of 2011, office market saw clear
downtrend. New supply continued to increase at
approximately 40% from Q4 previous year (figures
from Savills). Average rental price decreased by
over 2% from the previous quarter and 3-4% over
the same period of previous year. The rental rate is
also decreasing, the statistics of Savills showed in
Q4 the rental rate reached 75%, marking the lowest
level in the year.
Market is still under pressure from abundant new
supply from newly-completed large projects such
as Keangnam, Indochina Plaza,

Retail market
Retail market by the end of the year saw many
high-class projects in operations such as Vincom
Centre Long Bien, Savico Mall Long Bien and
Parkson Landmark Keangnam,...

Source: Office rental price in HCM City in Q4/2011CBRE

Vietnam

Source: Office rental price in Hanoi in Q4/2011Savills Vietnam

Difficulties for retail segment, supply on

the rise

It is easy to see that the supply is constantly

increasing and it is estimated to welcome 1.5
million m2 of new floor area in the next three years,
of which in 2014 Thanh Xuan district is forecasted
to provide the biggest area with about 50% of the
total supply. This will create competitive pressure
in rental price in the following years.

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Real estate market report in 2011

OUTSTANDING PROJECT
Vincom Village ecology urban zone located on a
total area of more than 183ha is the most modern,
luxurious and high-end urban zone in Vietnam.
With the idea of an urban zone development of not
only beauty, modern and high-class special
standards in facilities but also a perfect habitat,
Vincom Village is organized and planned on
inward basis, focusing on green walking garden,
curving lake with large area.
Designed in the neoclassical style by a team of
talented architects, each villa at Vincom Village is
a work of architecture that is the luxury, elegance,
sophistication and class claims of the employer.
Villas at Vincom Village are the convergence of
quintessence with French architectural style as we
see in tourism areas such as Da Lat, Tam Dao, Sapa
or centre of Hanoi streets
Vincom Village project, despite being commenced
in the middle of May 2011 on a huge area, the
whole items of project in phase 1 would be
completed by the end of 2011, including trade
centre, schools, villas, infrastrutures and
landscapes. Accordingly, from now till the end of
December, whole villas will be handed over to
customers and in 2012, first 300 families will
officially become residents of Vincom Village.

The investor said: Currently, all items of project are

being deployed by over 20,000 workers of contractors.
In addition, hundreds of officials and technical experts
are also regularly examining and available for
inspection to monitor the progress and quality of
construction. All are for ensuring for the operation with
the best quality.

Overall perspective of project

Project:

Vincom Village

Investor:
and Investment JSC

Sai Dong Urban Development

Location:

Long Bien, HN

Scale:

183.6 ha

Volume:

More than 1,000 villas

On sale:

On May 28, 2011

Current price:

60 - 70 million VND/m2

Kick-off construction: May 12, 2011

Handover:

In December 2011

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Real estate market report in 2011

LAND PRICE TABLE OF TYPICAL PROJECTS

Project land price table in Hanoi December 2011
Project

Road >10m
Adjacent

Road >17m

Villa

Adjacent

Villa

Road >30m
Adjacent

Villa

Ha Dong
Thanh Ha (A, B)

31-35

Duong Noi Zone D

40-45

Tay Do Villas

28-29
52-57
55-60

Van Phu

46-63

Van Khe

90-120

An Hung

63-70

Park City

92-93

30
70-80

60-70

70-95

65-70

100-115

Thang Long Boulevard

Le Trong Tan Geleximco
(A, B, C, D)

A:45-47
C:45-47
D:39-43

A:52-53

90-100
C: 40-45

Bac An Khanh

63-76

Nam An Khanh

70

25-30

40-43

National Highway 32
North National Highway
32
New Tay Do

38-40
38-43

Phoenix Garden

60
50-55

23-35

Kim Chung Di Trach

32-35

30

41-43

50-55

Van Canh HUD

36-40

33-35

40-45

53-55

Northeast Area
Viet Hung
Hanoi Garden City

53-60

45-55

65

Minh Giang Dam Va

14-19

Vincom Village

58-70

AIC Me Linh

17-22

12-15

Tung Phuong

15.5

14-15

Cienco 5 Me Linh

14-16

10-11

18-20

12-14

24-25

Note: Price table for reference only (Unit: Million VND/m2)

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Real estate market report in 2011

LAND PRICE TABLE OF TYPICAL PROJECTS

Condominium price table in Hanoi December 2011
Area (m2)

Reference price

119.16

52.5-45.5

Indochina Plaza

112

57.2-62.7

Madarin Garden

130.1

45-47.5

Dolphin Plaza

112

45-55

No5 - Vinaconex

146

42-44.6

170 De La Thanh

125

36-37.5

Sky city Tower

112

57-58

79-146

22.5 -26

96.1 -120

17.8

77-84

20-27

78

18-20

Location

Project/Zone

Cau Giay

Discovery Complex

Dong Da

Ha Dong

Usilk City
Van Phu Victoria
Xala
Mekong Plaza
Sails Tower

Hai Ba Trung

TimesCity

14-18
75-108

Hoa Binh Green City

Hoang Mai

29.8-34.2
24,1 -27

Megastar 409 Linh Dam

86

20-22

282 Linh Nam

78

21-24

125.59

24-26

Long Bien

CT10 Viet Hung

Tay Ho

Ciputra

182

46.5-51

Thanh Xuan

SaKuRa

91-117

27-28.5

109

42.2-45

Hapulico

76-110

32-35

C14 Ministry of Police

70-110

25,5 - 27

101

27-27,5

Royal City
Tu Liem

C37
An Bnh Tower
Keangnam

15
118

Dream Tower
Hung Yen

57-60
17,8-18

Viglacera Tower

133

39-42

Ecopark

70.9

19.44-23.67

83.3

18.9-22.68

91.8
Note: Price table for reference only (Million VND/m2)

19.62-4.12

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Real estate market report in 2011

Reference land price table in end-2011

Project/Zone

HCM City

Internal Road > 10.5m

Internal Road >17.5m

Main Road >30m

+/%

S<120 120<S<240 S>240 S<120 120<S<240 S>240 S<120 120<S<240 S>240

m2
m2
m2
m2
m2
m2
m2
m2
m2
District 2

21st Century

35.8

Him LamLuong Dinh

Cua

46.5 49.8

Thanh My
Loi - Phu
Nhuan
Thu Duc
House

37.2

45.449.8
61.3

1.8>4.6
-1.8>1.2

65.8

30.8 34.5

43.6-47.5

38.7 - 43.3

51.4

1.6>4.9
52.2

-19>-8

District 7

Phu MyVan Phat

Hung

38 40.5

31 - 33

-1.5>0

31
33.2

34 36

0>3.3

Him Lam Kenh Te

46.5 48

70 80

Hung GiaHung Phuoc

67 70

Sadeco
Riverside

84 -86

0
38 40.5

31 - 33
Phu MyVan Phat
Hung

-1.5>0

District 8

Phu LoiHai Thanh

10.5
12

15
17.2

District 9
North Rach
Chiec

15.7
17

Gia Hoa
Hung Phu
Nam Long

11.5

18.7 19.2

0>0.3

12.8 14.2

15.5 - 16

12.6

14
20 - 24

0>0.6
0
0

12.2
14.516.5
17.3
Note: Price table for reference only (Million VND/m2)

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Real estate market report in 2011

Reference land price table in end-2011

Project/Zone
HCM City

Internal Road > 10.5m

Internal Road >17.5m

Main Road >30m

+/%

S<120 120<S<240 S>240 S<120 120<S<240 S>240 S<120 120<S<240 S>240

m2
m2
m2
m2
m2
m2
m2
m2
m2
Binh Chanh District

Trung Son

13.5 14.5

Dai Phuc
Intresco 6B

12.5

Cienco 5

6-7

13A

9.8

18

26.5

0
27 - 30

29

7-8

12

14.5 15

17.9 19.4

13B
13C

52
56.5

40 51

15.7
19.5 21

16.5
17.6

1920.5

-4.8>2.5
-8.2>6.9
-2.6>6.4

Binh Tan District

Ho Hoc
Lam
Ao Sen- Ten
Lua

14 15
11.5 13

15 16

0
36

39

Nha Be District
Phu XuanVan Phat
Hung
Cotec Phu
Xuan
Thai Son 1

9.5

8
14 16

11

12

8.5

13.5

10

16 19

6.8>11.8

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Real estate market report in 2011

Reference land price table of condominium in end -2011

Area (m2)

Reference
price/m2

+/- %

Thinh Vuong

76-183

19.8-23.2

2.5 -> 4.8

An Phu An Khanh

141.6

24.5-25.6

2.1->2.4

An Hoa

75-95-100

19- 21

0.5 -> 4

An Cu

98 105

24.3 25.6

1.35 -> 1.6

Binh Minh

95 108

19 22.3

0 -> 4.2

Cantavil

98 140

31.1 36.9

-1.3 ->0.27

Thu Thiem Xanh

60 120

15.2 16.5

Thao Dien River View

105 - 120

29-31.2

2.4 -> 2.63

Xi RiverView Palace

145 - 202

29.1 31.2

-5 -> -3

Phu My

77 - 177

20 23.5

-9 -> 0

Hoang Anh Gia Lai 1

77 - 114

19 - 20

Hoang Anh Gia Lai 2

118
187.6

16 19.5

120 - 121

32 - 34

An Vien

73 - 76

19.5 - 21

District 8

Phu Loi

74

9.5 10.6

District 9

Richland Hill

100 - 120

22 22.5

Pho Dong Hoa Sen

55 - 94

13 13.5

Hong Linh Plaza

65 - 97

19.6 24.4

-7.5 -> -5.4

A View

83 - 110

12.5- 14.2

-7.2 -> -6.6

Conic Dinh Khiem

(Block A, B)

55 74

12 13.5

-6.5 -> -3.6

The Mansion

83 - 101

11 13.5

-13.4 -> -4.9

An Lac

80 - 105

9.5 - 12

Le Thanh

50 - 68

11 11.2

Vinh Tuong Tay SG

90 - 120

10.5 13.5

Phu Hoang Anh

87 - 129

20 - 30

Hoang Anh Gia Lai 3

99 - 126

19 - 21

Location
District 2

District 7

Project/Zone

Nam Khang

Binh Chanh
District

Binh Tan District

Nha Be District

Note: Price table for reference only

Unit: Million VND/m2

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Real estate market report in 2011

UPDATED PHOTO GALLERY ON PACE OF PROJECTS IN HANOI

Hapulico Complex completed crude
construction

Van Phu Victoria under constructioin for eighth

floor

B41 Building-Head Department V

28-storey condominium in Thang Long

international village

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Real estate market report in 2011

Splendora condominium under completion

AZ Lam Vien Complex under crude construction

for second floor

Geleximco urban zone under completion for

adjacent houses

Hong River Parkview

Cannal Park condominium under completion

Hoa Binh Green City under construction for

foundation

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Appendix: Typical Real Estate Projects

Project
Name

No

Investor

Total
Investment

Area

Location

Progress

Description

Times City

Vingroup

5.8 trillion
VND

364.500
m2

458 Minh Khai Hai Ba Trung Hanoi

Under
construction for
infrastructure
and crude work
for some
buildings

Project includes 9 land plots, including 7 land plots to build

house for living and ancillary works and 2 remaining land
plots to build Vinmedicare international general hospital.
These buildings are planed to have 22 - 35 floors.

Vincom
Village

Vingroup

10 trillion
VND

183.5 ha

Phuc Loi, Phuc

Dong, Viet Hung,
Gia Thuy, Long
Bien, HN

Preparation to
hand over
villas

Project consists of about 1,000 villas ranging an area of

38.2ha, traffic road 50ha, green area and water surface 60ha,
Vincom Centre trade centre 45,000m2, 01 Vinmec hospital
and 2 office and condominium areas

Mandarin
Garden

Golden Gain
Vietnam

25,886 m2

Southeast Tran
Duy Hung, Hanoi

Under
Project comprises 4 condominium buildings of from 25-29
construction for floors, and scale of 1,008 high-class apartments and trade
seventh floor
centre

Dream City

Viet Han

5.8 trillion
VND

2.069,28
ha

Tam Nong, Phu

Tho

Suoi Son

Long Dien Real

EstateJS Co

4.575 trillion
VND

117 ha

Hoa Binh hamlet,

Giang Dien
commune, Trang

Project includes trade complex, office, housing area at 52.31

ha, or 2.53%. Living land area: 341.66 ha, or 16.51 %. Green
area: 1092.54 ha, or 52.97%,
Under
Construction land area accounts for 56.5ha, including single
construction for villas, adjacent houses and condos. Land area for public
infrastructure
works at 9.89 ha, land area for traffic at 29.2 ha, green park

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Real estate market report in 2011

Bom, Dong Nai

6

The Empire

Thanh Do Group

10 trillion
VND

51,5 ha

and sport area 15.22 ha and river and lake at 6.19 ha.

Truong Sa street,
Hoa Hai ward,
Ngu Hanh Son
district, Da Nang
City

Under
construction for
infrastructure.
Fully
completion is
expected in
2018

Project is divided into two zones, zone Q1 is adjacent Truong

Sa street with 30 ha area, including sea view villas, hotel and
apartments, zone Q2 with 21.5 h, villas and hotel,
Project was kicked off construction on July 24, 2011. As
expected, in Q2 2013 project will complete walking streets,
townhouses and infrastructure of zone Q2. In Q2 2014,
project will complete villas of zone 1 and complete basically
for villas of zone Q2. In Q4 2016 project will complete hotel
and building complex areas.

Phuoc An
urban zone

HUD Group

6 trillion
VND

150 ha

Nhon Trach, Dong

Nai

Under
construction

Project is located on two main axises of new city of Nhon

Trach. Urban zone project has the front of road No 1 of 53m,
near administrative centre area, about 25km from HCM City
on road 25C. Housing area is 66ha, including 512 single
villas, 836 duplex villas and over 1,000 adjacent villas.
Construction density is 44%.

IJC
Commercial
Town

Becamex IJC

450 billion
VND

43,923

New City of Binh

Duong

Under
deployment

Project includes 300 townhouses with structure of one ground

floor and two floors and terrace. Land area of each
townhouse is from 125m2 to 145m2, construction floor area is
from 381.5m2 each.

Golden Hills

Trung Nam
Group

$1.67 billion

400ha

Hoa Hiep Nam

commune; Hoa
Hiep Bac; Hoa
Lien, Hoa Vang,
Lien Chieu

Under
construction for
traffic
infrastructure

Traffic system at Golden Hills accounts for 25.5% including

internal road, inter-district road, main road private road of
ecology villa area with width of 7.5m; 11.5m; 13.5m; 15.5m;
30m; 33mCurrently Trung Nam is gearing up construction

m2

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Real estate market report in 2011

district, Da Nang

10

UNI Town

Becamex -TDC

1.3 trillion
VND

54,503
m2

Central of Binh
Duog new city

of internal road in Zone A.

Under
construction

Project comprises 285 townhouses ranging various areas of

105, 108, 110, 131 and 148m2, price is about 4.8 billion
VND/unit.

Disclaimer: The information included herein is compiled and edited by CafeF Land Editorial Division on the basis of public sources believed to be reliable and proved to be
valuable for investors. However, we accept no responsibility for any risks or losses of investors when using information in this report.

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